Can I retire at age 58 with 955,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$78,863$78,161$77,475$76,806$76,153$73,451
2 years$39,041$38,314$37,609$36,926$36,263$33,570
3 years$25,769$25,039$24,336$23,659$23,007$20,407
4 years$19,134$18,406$17,710$17,045$16,409$13,922
5 years$15,154$14,431$13,744$13,092$12,474$10,106
6 years$12,502$11,784$11,107$10,470$9,870$7,624
7 years$10,608$9,896$9,230$8,608$8,027$5,902
8 years$9,188$8,483$7,828$7,221$6,659$4,653
9 years$8,085$7,386$6,742$6,151$5,608$3,718
10 years$7,202$6,510$5,878$5,302$4,778$3,002
11 years$6,481$5,796$5,175$4,614$4,109$2,443
12 years$5,880$5,202$4,592$4,047$3,561$2,000
13 years$5,372$4,701$4,103$3,573$3,105$1,646
14 years$4,937$4,273$3,687$3,172$2,722$1,360
15 years$4,560$3,903$3,329$2,829$2,397$1,127
16 years$4,231$3,581$3,018$2,533$2,118$937
17 years$3,941$3,298$2,746$2,276$1,878$780
18 years$3,683$3,048$2,507$2,051$1,670$651
19 years$3,453$2,825$2,295$1,853$1,489$544
20 years$3,246$2,625$2,106$1,678$1,330$455
21 years$3,059$2,445$1,937$1,523$1,190$381
22 years$2,889$2,282$1,785$1,385$1,067$319
23 years$2,734$2,134$1,649$1,261$957$268
24 years$2,592$2,000$1,525$1,150$861$225
25 years$2,462$1,877$1,412$1,051$774$189
26 years$2,342$1,764$1,310$961$697$158
27 years$2,231$1,660$1,216$879$629$133
28 years$2,128$1,564$1,131$806$567$112
29 years$2,033$1,476$1,052$739$512$94
30 years$1,944$1,394$980$678$463$79
31 years$1,861$1,317$914$623$419$67
32 years$1,783$1,247$852$572$379$56
33 years$1,710$1,181$796$526$343$47
34 years$1,642$1,119$744$484$310$40
35 years$1,577$1,061$695$446$281$33
36 years$1,517$1,007$650$411$255$28
37 years$1,460$957$609$378$231$24
38 years$1,405$909$570$349$209$20
39 years$1,354$865$534$321$190$17
40 years$1,306$823$501$296$172$14
41 years$1,260$783$469$274$156$12
42 years$1,216$746$440$252$142$10
43 years$1,174$710$413$233$129$8
44 years$1,135$677$388$215$117$7
45 years$1,097$646$364$199$106$6
46 years$1,061$616$342$184$96$5
47 years$1,027$588$321$170$87$4
48 years$994$561$302$157$79$4
49 years$962$536$284$145$72$3
50 years$932$512$267$134$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $955,000, adding $6,780 every year, while hoping to spend $52,140 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 22/48/30 Blend
57$955,000$955,000$955,000$955,000
58$1,059,404$1,008,789$993,986$1,072,581
59$1,111,986$1,002,743$971,808$1,078,907
60$1,168,185$994,653$947,140$1,080,908
61$1,228,313$984,364$919,842$1,081,942
62$1,292,715$971,712$889,771$1,081,966
63$1,361,768$956,522$856,774$1,080,936
64$1,435,886$938,610$820,694$1,078,810
65$1,515,524$917,779$781,364$1,075,548
66$1,601,179$893,822$738,612$1,071,115
67$1,693,401$866,520$692,257$1,065,475
68$1,792,789$835,641$642,109$1,058,599
69$1,900,005$800,939$587,971$1,050,463
70$2,015,773$762,153$529,636$1,041,048
71$2,140,892$719,009$466,889$1,030,341
72$2,276,238$671,215$399,505$1,018,338
73$2,422,774$618,465$327,248$1,005,047
74$2,581,559$560,431$249,873$990,482
75$2,753,757$496,772$167,123$974,675
76$2,940,650$427,122$78,730$957,671
77$3,143,644$351,100$0$939,529
78$3,364,290$268,298$0$925,326
79$3,604,292$178,289$0$937,391
80$3,865,524$80,619$0$950,720
81$4,150,051$0$0$965,573
82$4,460,141$0$0$995,550
83$4,798,295$0$0$1,074,830
84$5,167,262$0$0$1,161,496
85$5,570,069$0$0$1,256,278
86$6,010,048$0$0$1,359,981
87$6,490,868$0$0$1,473,493
88$7,016,567$0$0$1,597,788
89$7,591,592$0$0$1,733,943
90$8,220,838$0$0$1,883,141
91$8,909,697$0$0$2,046,685
92$9,664,105$0$0$2,226,013
93$10,490,600$0$0$2,422,704
94$11,396,380$0$0$2,638,501
95$12,389,377$0$0$2,875,324
96$13,478,321$0$0$3,135,284
97$14,672,833$0$0$3,420,711
98$15,983,506$0$0$3,734,169
99$17,422,011$0$0$4,078,482
100$19,001,200$0$0$4,456,764